Method and system for managing a mortgage rebate transaction card account

ABSTRACT

A method and system of managing a mortgage rebate transaction card account in which a transaction card provider computes a mortgage rebate amount based on the amount of charges incurred against the account and periodically arranges for application of the mortgage rebate amount against a mortgage loan balance for the cardholder. The account is provided by the transaction card provider in connection with either a pre-existing mortgage loan of the cardholder or a prospective mortgage loan of the cardholder. Further, the account can be provided in connection with a mortgage loan from any mortgage lender regardless of the existence or non-existence of an affiliation or association between the transaction card provider and the mortgage lender.

PRIORITY APPLICATION

This application claims the benefit of U.S. Provisional Application No.60/519,278 filed Nov. 13, 2003, entitled “HOME REBATE CREDIT CARD”,which is incorporated herein by this reference.

FIELD OF THE INVENTION

The present invention relates generally to methods and systems formultiple use of transaction devices, and particularly to a method andsystem for providing incentives to consumers in the form of rebatesapplied to consumers' mortgages and to a potential mortgage debtor.

BACKGROUND

There is a large population of mortgage debtors in the United States.When purchasing or refinancing a home, consumers typically obtain along-term loan from a bank or other lender. The home and often the landon which the home stands serve as collateral for the loan. The consumer,in obtaining the loan, gives the bank a lien against the property. Thus,if the consumer does not pay as scheduled, the bank can foreclose on thehome.

Because home mortgages are such large loans, consumers often pay theloan in 15 or 30 years. Monthly payments slowly decrease the amount owedon the mortgage. Nevertheless, the interest on the principal accumulatesover the years. As a result, consumers have a high priority to pay theloan as quickly as possible, eliminating the risk of foreclosure andminimizing the accrued interest.

Along with mortgages, many consumers utilize transaction cards, such ascredit cards, to manage finances and debt. Many conventional creditcards or other financial transaction devices provide incentives toconsumers to encourage use of their cards over other transaction cardsor other forms of exchange. Typically, this involves using a credit cardwhere the consumer is awarded one free frequent flier mile with aparticular airline for every dollar he or she charges on his or hercredit card. By receiving frequent flier miles, consumers are given anincentive to use a particular credit card over other credit cards,money, checks, and automated bank cards. Similar incentive programsinclude receiving points or dollars towards the purchase of merchandiseor services, such as automobiles, electronic equipment, music CDs, andphone service.

Other conventional credit cards offer a cash-back rebate. For example,one credit card issuer has a dividend product that provides one percentcash-back to the consumers on their purchases. Other credit cardsprovide a cash rebate to consumers of between one and five percent.Typically, the five percent cash-back rebate is limited to certaincategories of purchases or revolving balances. The cash back is givendirectly to the consumer. However, most credit cards require consumersto earn a specified amount of a rebate before actually receiving therebate. Additionally, there is usually a maximum limit, i.e., a cap, tothe amount consumers can receive as a rebate.

No credit card provides a rebate that assists consumers in paying theirmortgage. Further, no credit card has a rebate without a cap thatapplies the rebate directly to a mortgage. There is a current need for acredit card that caters to mortgage debtors.

SUMMARY OF THE INVENTION

It is a feature and advantage of the present invention to provide atransaction card account designed for a consumer who is either amortgage debtor, potential mortgage debtor, or is currently obtaining apre-approval for a mortgage.

It is another feature and advantage of the present invention to providea transaction card account that helps the consumer pay down his or hermortgage simply by using the transaction card.

It is a further feature and advantage of the present invention toprovide a transaction card account that offers a percentage rebate, suchas one percent, for which the rebate amount earned during each calendaryear is provided on a cardholder's behalf to the cardholder's mortgagelender of record as a pre-payment towards his or her mortgage principalbalance.

It is an additional feature and advantage of the present invention toprovide a mortgage rebate transaction card that offers rebates toconsumers in the form of credits to the mortgage principal, and alsoallows consumers to earn rebates on the up-front mortgage applicationfee at the point-of-sale.

To achieve the stated and other features, advantages and objects,embodiments of the present invention utilize, for example, computerhardware, operating systems, programming languages, softwareapplications, and other technology to provide a transaction, such as acredit card, which furnishes rewards to cardholders when executingtransactions with the credit card. The rewards are realized as a cashrebate that may be applied to the principal balance of a mortgage or afuture mortgage. There is no cap on the value of the rebate that may beearned, and the rebate is accumulated and applied to the mortgageprincipal periodically, such as once annually.

In an embodiment of the invention, when an individual applies for amortgage, a determination is made as to whether the applicant qualifiesfor the credit card. Qualified applicants are offered the credit card.Upon acceptance of the credit card offer, application related costs maybe applied to a temporary account. Additional credit and fraud checksare performed. If the applicant is finally approved, the credit card isissued and the application related costs appear on the first credit cardstatement. If the applicant is subsequently not approved, then a requestfor alternative payment of application related costs is issued.Alternatively, the consumer may obtain the mortgage rebate card throughconventional means, including, but not limited to, a separate mortgagecompany.

In particular, embodiments of the invention provide methods and systemsof managing a mortgage rebate transaction card account in which atransaction card provider furnishes the account to a cardholder andallows the cardholder to incur charges against the account. Thereafter,the transaction card provider computes a mortgage rebate amount based onthe amount of charges incurred against the account and periodicallyarranges for application of the mortgage rebate amount against amortgage loan balance for the cardholder.

An aspect of the invention involves providing the mortgage rebatetransaction card account by the transaction card provider in connectionwith either a pre-existing mortgage loan of the cardholder or aprospective mortgage loan of the cardholder. In the latter case, themortgage rebate transaction card account may be provided in connectionwith approval of an application for a mortgage loan by the cardholder,and the cardholder may be allowed to charge the mortgage loanapplication fee against the account.

An embodiment of the invention proposes that the cardholder is providedan option for the mortgage rebate transaction card account either inconnection with a mortgage loan from a mortgage lender that isaffiliated or associated with the transaction card provider or inconnection with a mortgage loan from mortgage lender that is notaffiliated or associated with the transaction card provider. Thus, thetransaction card provider may provide the account for the cardholder inconnection with a mortgage loan from any mortgage lender regardless ofthe existence or non-existence of an affiliation or association betweenthe transaction card provider and the mortgage lender.

In an embodiment of the invention, the mortgage rebate amount iscomputed without imposing a maximum limit. Further, the transaction cardprovider can arrange for application of the amount directly against themortgage loan balance in the form of an annual credit to thecardholder's mortgage loan balance based, for example, on an anniversarydate of the mortgage rebate transaction card account, and the mortgagerebate amount can be paid directly to the mortgage lender by thetransaction card provider by electronic transfer or check. However,under certain circumstances, mortgage rebate amount can be paid to thecardholder via account credit or check. In any event, the cardholder'scomputed mortgage rebate amount is likewise decremented by an amountequal to the amount applied to the cardholder's mortgage loan balance.

Additional objects, advantages and novel features of the invention willbe set forth in part in the description which follows, and in part willbecome more apparent to those skilled in the art upon examination of thefollowing, or may be learned from practice of the invention.

BRIEF DESCRIPTION OF THE DRAWINGS

FIGS. 1 a-1 c show a schematic flow chart that illustrates an example ofthe process of a consumer obtaining a mortgage rebate credit card for anembodiment of the invention;

FIG. 2 is a schematic flow chart that illustrates of an example ofprocessing an approval for a mortgage rebate credit card for anembodiment of the invention; and

FIG. 3 is a flow chart that illustrates an example of the process ofmanaging the mortgage rebate transaction card account for an embodimentof the invention.

DETAILED DESCRIPTION

As required, detailed features and embodiments of the invention aredisclosed herein. However, it is to be understood that the disclosedfeatures and embodiments are merely exemplary of the invention that maybe embodied in various and alternative forms. The figures are notnecessarily to scale, and some features may be exaggerated or minimizedto show details of particular components. Therefore, specific structuraland functional details disclosed herein, and any particular combinationof these details, are not to be interpreted as limiting, but merely as abasis for claims and as a representative basis for teaching one skilledin the art to variously employ the invention.

Referring now in detail to an embodiment of the present invention,examples of which are illustrated in the accompanying drawings, eachexample is provided by way of explanation of the invention, not as alimitation of the invention. It will be apparent to those skilled in theart that various modifications and variations can be made in the presentinvention without departing from the scope or spirit of the invention.For instance, features illustrated or described as part of oneembodiment can be used on another embodiment to yield a still furtherembodiment. Thus, it is intended that the present invention cover suchmodifications and variations that come within the scope of theinvention.

An embodiment of the present invention provides a credit card designedfor a consumer who is also a mortgage debtor, mortgage applicant orpotential mortgage debtor. The credit card allows the consumer to paydown his or her mortgage balance just by using the credit card. Whetherthe consumer uses the credit card for gas, groceries, clothing, or homeimprovements such as paint, wallpaper, carpeting, or window treatments,a rebate of the credit card applies to the mortgage balance.

In an example of an embodiment of the invention, a credit card for amortgage debtor/consumer has a one percent rebate without a maximumlimit, i.e., a cap. The consumer can reduce the term of his or hermortgage or pay off the mortgage balance at a faster rate using thecredit card. For example, assume the consumer has a mortgage balance of$200,000 at a 6.25% annual percentage rate (APR). If the mortgage has a15-year term, with an annual rebate of $200, the consumer saves$4,927.60 in principal and interest, reducing the term of the mortgageby about two months. If the mortgage has a 15-year term, with an annualrebate of $300, the consumer saves $7,364.13 in principal and interest,reducing the term of the mortgage by about 4 months. If the mortgage hasa 30-year term, with an annual rebate of $200, the consumer saves$16,990.40 in principal and interest and the term is reduced by about 13months. If the mortgage has a 30-year term, with an annual rebate of$300, the consumer saves $25,071.06 and the term is reduced by about 19months.

For another example, assume a consumer has a mortgage balance of$192,347 with 27 years remaining on the mortgage term and an APR of6.37%. With an annual rebate of $300, the consumer saves $20,443 inprincipal and interest and reduces the term of the mortgage by 22months. With an annual rebate of $200, the consumer saves $13,946 inprincipal and interest and reduces the term of the mortgage by 10months. With an annual rebate of $100, the consumer saves $6,127 inprincipal and interest and reduces the term of the mortgage by 5 months.

FIGS. 1 a-1 c show a schematic flow chart that illustrates an example ofthe process of a consumer obtaining a mortgage rebate transaction cardfor an embodiment of the invention. Referring to FIGS. 1 a-1 c, amortgage rebate credit card is offered by a company with a mortgagecompany and a credit card division. The terms “mortgage company” and“credit card division” are not limited to a corporate division, and mayencompass a company, a unit, or other similar entity. The mortgagecompany and credit card division are entities of the same corporation,or alternatively, are separate corporate entities. Accordingly, themortgage company has a mortgage accounting department and the creditcard division has a credit card accounting department. A consumerbecomes aware of the mortgage rebate credit card, for example, through asolicitation or through the consumer's own investigation and research.In one specific embodiment, at S1, the consumer telephones the mortgagecompany to request a loan application or a refinance application. At S2,the application is completed, either by the consumer alone or,alternatively, with the assistance of a representative from the mortgagecompany.

Referring further to FIGS. 1 a-1 c, at S3, the mortgage company launchescredit analyzing software to score the mortgage and credit cardapplication. The mortgage company approves the application for themortgage at S4. If the mortgage is not approved, the mortgage rebatecredit card offer is not extended to the consumer at S5. Additionally,the company evaluates whether to offer a credit card to the consumer atS6. If the consumer is not approved for a credit card, then no creditcard offer is extended to the consumer at S7. Alternatively, if theapproval of the credit card is analyzed first, and the consumer is notapproved, the mortgage rebate credit card offer is not extended to theconsumer. However, even though the consumer is not approved for a creditcard in this instance, the mortgage application is still reviewed forapproval. Nevertheless, if the consumer is approved for the mortgage andthe credit card, the mortgage rebate credit card is offered to theconsumer at S8. The representative then reads scripted disclosures tothe consumer for the credit card at S9.

The consumer has the choice of accepting the offer for the mortgagerebate credit card at S10. If the consumer does not accept the mortgagerebate credit card offer at S11, the mortgage process continues asconducted conventionally in the business. If the consumer accepts theoffer for the mortgage rebate credit card, the mortgage company launchesa credit card program and uses a generic card number for the consumer atS12. The mortgage accounting department processes the application feeusing the generic account number at S21.

The mortgage accounting department sends a daily report with anapplicable loan number to the credit card accounting department at S22.The credit card accounting department reconciles a daily report ofapplication fees to determine if the consumer was approved for thecredit card at S23. At S24, potential outcomes of the decision include“approved” (card account opened), “pended” (sent to a judgmental queueto be handled within about six days), “pended with a letter” (to beresolved within about three weeks), or “declined”. If the card isapproved, an account number is provided which the representative uses toport the application fee transaction at S26. If the result is pendedwith a letter or declined, the representative contacts the consumer andasks for another form of payment at S30. If the result is simply pended,the consumer's record is held off the file for a predetermined period,such as 6 days, and if still pended, the record is sent to the mortgagecompany as pended and requesting alternative payment at S30.

Referring further to FIGS. 1 a-1 c, the mortgage division prints a“Welcome” package including a dummy document on the credit card programat S13, creating an event. Triggered by the event, a nightly data feedtransfers all data from accepted programs for the day at S14. Credit andfraud analysis is performed on the accepted applications at S15. Theapproval is processed through the credit card division's creditanalyzing software. In analyzing fraud during the application process,policy rules are implemented, including, but not limited to, socialsecurity number validation and verification, address verification, andpotential fraud alerts. After the application is processed, a file iscreated with a list of previous days records.

If the consumer is approved for the credit card, the credit cardaccounting department creates a new account number and sends a creditcard to the consumer at S25. The credit card accounting departmenttransfers funds from the generic account to the consumer's new accountat S26.

Optionally, a portion of the credit line is available at the point ofsale for the consumer to use for payment of mortgage application fees,which typically range from approximately $300 to $800. The credit cardaccounting department includes the mortgage application fee on the firstinvoice or credit card statement to the consumer at S27. The consumerthen has instant access to a portion of his or her credit line to use inapplication costs or fees. The consumer receives a rebate for thistransaction. The consumer may request, however, that the mortgageapplication fee be paid by another credit card or account.

If the credit card is not approved at S16, the consumer is notified atS17. Additionally, the credit card accounting department contacts themortgage company with notification of the rejection at S28. The mortgageaccounting department reverses any charges to the card and contacts therepresentative regarding the rejection at S29. The representativereceives notification from the mortgage accounting department at S30.The representative then contacts the consumer to request alternate meansto apply the mortgage application fee. The mortgage application processcontinues as conventional in the business. The company reverses theapplication fee on the generic account at S18 and does not activate thegeneric account. At S31, the process is complete. Alternatively, theconsumer may obtain the mortgage rebate credit card through conventionalmeans, including, but not limited to, a separate mortgage company and acredit card company.

In another aspect of embodiments of the invention, consumers are allowedto apply for a mortgage rebate transaction card account via a homerebate web application. In this aspect, terms and conditions of theaccount are displayed for a consumer, and the consumer is allowed toapply by entering personal information, employment and bankinginformation, mortgage lender information, and card option preferences inresponse to prompts. In another aspect of embodiments of the invention,consumers are allowed to access a home rebate mortgage savingscalculator via a home rebate product web page. In this aspect,information about the benefits of the mortgage rebate transaction cardaccount are displayed for the user, and the consumer is allowed to enterinformation about the consumer's current home mortgage and currenttransaction card usage in response to prompts. Thereafter, an estimatedsavings with the mortgage rebate transaction card account is calculatedand displayed for the consumer.

In a further aspect of embodiments of the invention, consumers with amortgage rebate transaction card account are permitted to access achange mortgage lender web page to update their mortgage lenderinformation in the event it changes or was not previously provided.Thus, the consumer is assured that the annual rebate to which he or sheis entitled will be paid to the appropriate mortgage lender. In a stillfurther aspect of embodiments of the invention, a consumer who has amortgage rebate transaction card account is also permitted to access acurrent rewards/rebate activity web page which lists for the consumerthe number of rebates earned by the consumer within the last billingcycle, as well as the number of rebates previously accumulated for theconsumer.

FIG. 3 is a flow chart that illustrates an example of the process ofmanaging the mortgage rebate transaction card account for an embodimentof the invention. Referring to FIG. 3, at S40, a consumer is givenoptions (a) to obtain the mortgage rebate credit card from the creditcard provider in connection with a mortgage loan held by a mortgageprovider affiliated or associated with the credit card provider or (b)to obtain the mortgage rebate credit card from the credit card providerin connection with a mortgage loan held by a mortgage provider that isneither affiliated nor associated with the credit card provider.

Referring further to FIG. 3, at S41, a mortgage rebate credit cardaccount is provided to the consumer, regardless of whether the consumerelects to obtain the mortgage rebate credit card in connection with amortgage loan held by the mortgage provider affiliated or associatedwith the credit card provider or elects instead to obtain the mortgagerebate credit card from the credit card provider in connection with amortgage loan held by a mortgage provider that is neither affiliated norassociated with the credit card provider.

Referring again to FIG. 3, thereafter at S42, the consumer is allowed toincur charges against the mortgage rebate credit card account for whichhe or she is invoiced periodically. In addition, at S43, a reward amountis computed for the consumer based on the amount of charges incurredagainst the mortgage rebate credit card account without any maximumlimit. At S44, arrangements are periodically made for application of thereward amount against a mortgage loan for the consumer in the form of anannual credit to the consumer's mortgage loan principal based on theconsumer's anniversary date with the mortgage rebate credit cardaccount.

Referring still again to FIG. 3, the reward amount is applied againstthe consumer's mortgage loan balance by transferring from the creditcard provider to the mortgage provider of a file of all eligibleconsumers along with their year-to-date earnings and paying the rewardamount directly to the mortgage provider by the credit card provider byelectronic transfer or check at S45, or in the absence of identificationinformation for the mortgage provider, by paying the reward amount tothe consumer via account credit or check at S46. In either case,thereafter, at S47, the consumer's computed reward amount is decrementedby an amount equal to the amount applied to the consumer's mortgage loanprincipal on a non-billing date.

Whether the consumer obtains the mortgage rebate credit card through theabove process or by alternate means, the consumer will not have to doanything to redeem his or her rewards. Redemption takes the form of anannual credit to the consumer's mortgage principal based upon theconsumer's anniversary date with the card product. This is achieved witha file transfer from the credit card division to the mortgage company.The credit card division produces a file of all eligible consumers alongwith their year-to-date earnings and sends the file to the mortgagecompany. The credit card division then decreases the annual credit for aparticular consumer by an amount equal to the amount that was awarded tothat consumer, indicating that the amount of the particular's consumer'sannual credit has been redeemed. This is done on a non-billing date.

The rebate from the credit card use is paid directly from the creditcard issuer to the mortgage company. The credit card issuer may pay themortgage company, for example, by electronic transfer or check.Alternatively, the credit card issuer may provide a check to theconsumer for payment to the mortgage company. In the absence of anymortgage loan information to the credit card issuer, the rebate is paiddirectly to the consumer via account credit or check. The consumerthereby pays his or her mortgage at a faster rate using the mortgagerebate credit card.

In some instances, a consumer may change his or her mortgage providerthrough re-financing or the mortgage provider may sell the mortgage toanother company. For these consumers, however, a file is provided withthe rebate amount earned by the consumer. A consolidated rebate istransferred to the mortgage company electronically and the credit isposted to the principal balance for each consumer.

In an embodiment of the invention, the mortgage division sets up aprocess to identify these consumers and validate whether they have anopen and active mortgage account with the mortgage company or an accountbeing serviced by the mortgage company. Once the accounts have beenidentified, the credit is applied. For mortgage accounts that are notfound, that are found to be closed, or that are found to have beentransferred to another bank or lender, the status is identified in theconfirmation file sent back to the credit card division.

If the consumer no longer maintains an open and identifiable mortgageaccount at the time of redemption, the credit card division rewards theconsumer in the form of a statement credit, and then decrements theaward balance. It is necessary for consumers to provide the credit carddivision with up-to-date mortgage account information in order to applythe rebate to their mortgage balances. If the credit card division hasno mortgage account data at the time of redemption, a statement creditwill be applied instead.

In another embodiment of the invention, the rebate does not apply tocertain credit card transactions. For example, rebates may notaccumulate on returned purchases, convenience checks, cash advances,balance transfers, finance charges, other account fees, and credits andbalances carried over from previous statements, and the like.

Various embodiments of the present invention have now been generallydescribed in a non-limiting manner. It will be appreciated that theseexamples are merely illustrative of the present invention, which isdefined by the following claims. Numerous variations, adaptations, andmodifications will be apparent to those of ordinary skill in the artwithout departing from the spirit and scope of the present invention.

1. A method of managing a mortgage rebate transaction card account,comprising: providing a mortgage rebate transaction card account for acardholder by a transaction card provider; allowing the cardholder toincur charges against the mortgage rebate transaction card account;computing a mortgage rebate amount by the transaction card providerbased on an amount of charges incurred against the mortgage rebatetransaction card account; and periodically arranging for application ofthe mortgage rebate amount against a mortgage loan balance for thecardholder by the transaction card provider.
 2. The method of claim 1,wherein providing the mortgage rebate transaction card account furthercomprises providing the mortgage rebate transaction card account inconnection with a pre-existing mortgage loan of the cardholder.
 3. Themethod of claim 1, wherein providing the mortgage rebate transactioncard account further comprises providing the mortgage rebate transactioncard account in connection with a prospective mortgage loan of thecardholder.
 4. The method of claim 1, wherein providing the mortgagerebate transaction card account further comprises providing the mortgagerebate transaction card account in connection with approval of anapplication for a mortgage loan by the cardholder.
 5. The method ofclaim 4, wherein providing the mortgage rebate transaction card accountin connection with approval of the application for the mortgage loanfurther comprises allowing the card holder to charge an application feefor the mortgage loan against the mortgage rebate transaction cardaccount.
 6. The method of claim 1, wherein providing the mortgage rebatetransaction card account further comprises providing the cardholder anoption for the mortgage rebate transaction card account in connectionwith a mortgage loan from either one of a mortgage lender that isaffiliated or associated with the transaction card provider and amortgage lender that is not affiliated or associated with thetransaction card provider.
 7. The method of claim 6, wherein providingthe cardholder an option for the mortgage rebate transaction cardaccount in connection with a mortgage loan from either one of a mortgagelender that is affiliated or associated with the transaction cardprovider and a mortgage lender that is not affiliated or associated withthe transaction card provider further comprises providing the mortgagerebate transaction card account in connection with a mortgage loan froma mortgage lender that is affiliated or associated with the transactioncard provider.
 8. The method of claim 6, wherein providing thecardholder an option for the mortgage rebate transaction card account inconnection with a mortgage loan from either one of a mortgage lenderthat is affiliated or associated with the transaction card provider anda mortgage lender that is not affiliated or associated with thetransaction card provider further comprises further comprises providingthe mortgage rebate transaction card account in connection with amortgage loan from a mortgage lender that is not affiliated orassociated with the transaction card provider.
 9. The method of claim 1,wherein providing the mortgage rebate transaction card account furthercomprises providing the mortgage rebate transaction card account inconnection with a mortgage loan from any mortgage lender regardless ofan affiliation or association between the transaction card provider andthe mortgage lender.
 10. The method of claim 1, wherein computing themortgage rebate amount by the transaction card provider furthercomprises computing the mortgage rebate amount without imposing amaximum limit on the mortgage rebate amount.
 11. The method of claim 1,wherein periodically arranging for application of the mortgage rebateamount further comprises periodically arranging for application of themortgage rebate amount directly against the mortgage loan balance forthe cardholder.
 12. The method of claim 11, wherein periodicallyarranging for application of the mortgage rebate amount directly againstthe mortgage loan balance further comprises periodically arranging forapplication of the mortgage rebate amount directly against the mortgageloan balance in the form of an annual credit to the cardholder'smortgage loan balance.
 13. The method of claim 12, wherein periodicallyarranging for application of the mortgage rebate amount directly againstthe mortgage loan balance further comprises periodically arranging forapplication of the mortgage rebate amount directly against the mortgageloan balance in the form of the annual credit based on an anniversarydate of the mortgage rebate transaction card account.
 14. The method ofclaim 12, wherein periodically arranging for application of the mortgagerebate amount directly against the mortgage loan balance furthercomprises paying the reward amount directly to the mortgage lender bythe transaction card provider by electronic transfer or check.
 15. Themethod of claim 1, wherein periodically arranging for application of themortgage rebate amount against the mortgage loan balance furthercomprises paying the reward amount to the cardholder via account creditor check.
 16. The method of claim 1, further comprising decrementing thecardholder's computed mortgage rebate amount by an amount equal to theamount applied to the cardholder's mortgage loan balance.
 17. A systemfor managing a mortgage rebate transaction card account, comprising:means for providing a mortgage rebate transaction card account for acardholder by a transaction card provider; means for allowing thecardholder to incur charges against the mortgage rebate transaction cardaccount; means for computing a mortgage rebate amount by the transactioncard provider based on an amount of charges incurred against themortgage rebate transaction card account; and means for periodicallyarranging for application of the mortgage rebate amount against amortgage loan balance for the cardholder by the transaction cardprovider.